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by Mudiwa Gavaza and Nico Gous. Ellies lost almost a fifth of its value on Monday as the electronics company announced probable job cuts to save money after reporting a loss in its 2022 financial.

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Shares in Ellies crashed 60% on Wednesday after the more than four-decade-old electronics group said it intended to enter business rescue amid the collapse of a crucial acquisition. The company, founded in 1979, imports and distributes LED lighting, as well as electronic and solar solutions.

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Ellies' share price declined by 99% over the last decade, with the company now entering business rescue and being technically insolvent. The company posted an R106.5 million loss for the six.

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Electronics group Ellies Holdings expects to report a wider loss for the six months ended October 2023, the company said on Monday. The group, which is in business rescue, said its headline loss.

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06 Mar 2024 (Johannesburg Stock Exchange) Ellies Holdings Limited, a prominent company incorporated in the Republic of South Africa, has announced significant changes to its Board of Directors.

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For more financial news, go to the News24 Business front page. Shares in Ellies crashed more than 12% after it warned of a widening interim loss per share as it grapples with a tough trading environment where consumers are under pressure amid soaring inflation and fuel costs. At the same time, the 43-year-old electronic goods group was also.

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Ellies has posted a R106.5 million after-tax loss for the six months ended 31 October 2023 — 205.2% worse than the R34.9 million half-year loss it reported last year. The company warned.

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Luke Fraser. · 31 Jan 2024. Electronics manufacturer and distributor Ellies has announced that it is going into voluntary business rescue. In February 2023, the group detailed its plan to acquire.

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First announced on 1 February 2023, Ellies expected to pay R207.6-million for Bundu Power and planned a R120-million rights issue, which it later cancelled on 4 December.

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Ellies anticipates a loss per share (LPS) ranging between 12.80 cents and 13.66 cents for the six months ended 31 October 2023. This range signifies an increase in losses of between 195% and 215%.

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Ellies share news. Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures), cryptocurrencies, and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and.

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Ellies Holdings Full Year 2023 ResultsKey Financial Results. Revenue: R993.0m (down 7.7% from FY 2022). Net loss: R86.9m (loss widened by 51% from FY 2022). R0.11 loss per share (further deteriorated from R0.079 loss in FY 2022).

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Ellies Holdings, which imports and distributes LED lighting, and electronic and solar solutions, said on Tuesday it suffered a loss well in excess of its R56 million market value in 2023, as it was hit by hefty restructuring costs and cash shortages. Ellies, which was founded in 1979, among other things supplies aerial and satellite equipment.

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Douglas Elliman announced the winners of the 2024 Ellie Awards, which honor the firm's top performing agents throughout the nation for 2023, last Thursday, March 14, and top performers from the.